LaShanya Washington
About LaShanya Washington
LaShanya Washington is Executive Vice President and Chief Credit Officer of Broadway Financial Corporation (BYFC) and City First Bank, N.A., serving in this role since April 2023; she previously was Deputy Chief Credit Officer (Aug 2022), Senior Credit Officer (Apr 2022), and Credit Risk Officer (Feb 2019) . As of March 31, 2025 she was 51 years old . Company pay-versus-performance shows TSR value of an initial $100 investment at $44 in 2022, $37 in 2023, and $37 in 2024, while net income was $5.636 million (2022), $4.514 million (2023), and $1.926 million (2024) . Credit indicators show criticized loans rose to $150.3 million and substandard loans to $59.6 million at Dec 31, 2024, with non-performing assets of $264 thousand (0.02% of total assets) and net loans of $968.9 million, highlighting the bank’s risk-profile under the credit function .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| City First Bank / Broadway Financial Corporation | EVP, Chief Credit Officer | Apr 2023–present | Leads enterprise credit risk, underwriting standards, and portfolio oversight across multifamily, CRE, construction and commercial segments . |
| City First Bank / Broadway Financial Corporation | Deputy Chief Credit Officer | Aug 2022–Apr 2023 | Supported credit policy and risk governance during loan growth period . |
| City First Bank / Broadway Financial Corporation | Senior Credit Officer | Apr 2022–Aug 2022 | Senior oversight of credit approvals and risk grading . |
| City First Bank / Broadway Financial Corporation | Credit Risk Officer | Feb 2019–Apr 2022 | Built credit risk management framework, early warning systems and criticized asset monitoring . |
| United Bank | Senior Credit Analyst | Nov 2018–Feb 2019 | Credit analysis supporting commercial originations . |
| Capital Impact Partners | Manager, Loan Servicing & Accounting | Nov 2015–Aug 2018 | Post-origination servicing process and portfolio controls for mission lending . |
External Roles
No public company directorships or external board roles are disclosed; filings list internal executive roles only .
Fixed Compensation
- Washington is not a Named Executive Officer; BYFC discloses detailed salary/bonus for CEO/CFO/COO only. No individual base salary or bonus amounts for Washington are provided in proxy/10-K filings .
Performance Compensation
Incentive Plan structure for senior executives (non-CEO):
| Component | Threshold | Target | Maximum |
|---|---|---|---|
| Cash incentive as % of base salary | 20% | 25% | 31% |
| Condition to any payout | ≥80% of Board-approved consolidated net earnings for the year | — | — |
| Notes | Objectives set annually by the Compensation & Benefits Committee | — | — |
| Citations: . |
Company performance measures used in annual incentives:
| Metric Category | Examples | Governance |
|---|---|---|
| Financial | Net Earnings; Net Interest Margin Improvement | Objectives derived from Strategic Plan, reviewed/approved annually by the Board . |
| Capital & Liquidity | Capital management; Core deposit growth | Compensation Committee sets objectives; determines payout based on results . |
| Risk & Quality | Asset Quality; Compliance Risk Management | Minimum earnings threshold (≥80%) required for any payout . |
| Growth & Mission | Net Loan Growth; Mission Execution | Restricted stock grants to employees generally vest over 36–60 months . |
Pay-versus-performance indicators (company-level context):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income ($USD) | $5.636M | $4.514M | $1.926M |
| TSR value of $100 investment | $44 | $37 | $37 |
| Citations: . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (Voting Common) | 12,177 shares; less than 1% of Voting Common Stock as of Apr 30, 2024 . |
| ESOP allocation (subset of above) | 1,286 shares allocated under the ESOP . |
| Shares outstanding context | 6,033,212 Voting Common shares outstanding as of Apr 30, 2024 . |
| Hedging/derivatives | Company prohibits hedging of BYFC securities by employees and directors . |
| Clawback | Nasdaq Rule 10D-1 compliant clawback policy adopted Oct 2023 (recovers excess incentive comp after restatement) . |
| Pledging | No pledging language is disclosed; filings state anti-hedging policy . |
| Insider trading activity | Initial Form 3 (Mar 24, 2023) reported no beneficial ownership at that time; later ownership disclosed in 2024 10-K table. No Form 4 transactions found in our search . |
Employment Terms
- Role start date and tenure: EVP, Chief Credit Officer since April 2023; prior internal credit roles since February 2019 .
- Plan participation: Senior executives participate in the Bank’s Incentive Plan subject to annual objectives and the ≥80% earnings threshold .
- ESOP participation: ESOP allocation disclosed (1,286 shares) .
- Policies: Anti-hedging policy and clawback policy in place .
- Non-solicit/COC/severance: Not individually disclosed for Washington in proxy/10-K; such terms are disclosed for CEO and certain other executives only .
Asset Quality and Credit Portfolio Context
| Indicator | 2023 | 2024 |
|---|---|---|
| Criticized loans (Watch + Special Mention) ($) | $130.0M | $150.3M |
| Substandard loans ($) | $21.7M | $59.6M |
| Non-performing assets ($) | $0 | $264k |
| NPAs / Total Assets (%) | 0.00% | 0.02% |
| Net loans ($) | $880.5M | $968.9M |
| Citations: . |
Investment Implications
- Alignment and governance: Washington has tangible skin-in-the-game via ESOP and share ownership, albeit below 1% of Voting Common; BYFC’s anti-hedging and clawback policies strengthen pay-for-performance alignment and discipline .
- Incentives and retention: Senior executive cash incentives are at-risk with a strict ≥80% earnings threshold; equity grants vest over 3–5 years, supporting retention but creating potential insider selling windows as tranches vest .
- Execution risk signals: Rising criticized and substandard balances in 2024 increase execution risk within the credit function; NPAs remain low, but monitoring of credit migrations and loan grading trends is warranted given Washington’s remit .
- Trading signals: No Form 4 activity found; watch for future insider transactions around RS vesting dates and credit-cycle inflections; company-level TSR was flat at $37 for 2023–2024, with net income down in 2024, implying limited equity compensation monetization tailwinds near term .